Facebook

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  • Facebook, Inc.
  • Legal Name: Facebook, Inc.
  • Website: facebook.com
  • Founded: 2004
  • Founder(s): Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, Chris Hughes
  • Wikipedia: wikipedia.org/wiki/Facebook,_Inc
  • Stock Symbol: NASDAQ: FB
  • Industry: Social Media

What is Facebook?

Facebook is an American company that offers social networking services. It was founded by Mark Zuckerberg, his college roommates, and fellow Harvard University students in 2004. Zuckerberg, designed the social network for Harvard students only, then decided to expand it to other colleges in the Ivy League, and eventually for most universities in the U.S.A and Canada. 2 years later after its release, Facebook became available for everyone that owns a valid email address with an age requirement of being at least 13.

Facebook became incredibly popular in its early years. During its first year, the entrepreneur Sean Parker, who was advising Zuckerberg about the social network, became the president of the company and decided to move its headquarters to Palo Alto, California. A year later, the company decided to drop the “the” from its name and purchased its initial domain name for $200,000. At the end of 2005, Facebook had around 6 million registered users around the world.

In 2007, over 100,000 businesses had their own business pages on the social network to attract potential customers. In 2011, Facebook managed to be the largest online photo host, while its 350 million users accessed the service through their mobile devices which account for 33% of all Facebook traffic.

As the world’s biggest social network, Facebook made some very important acquisitions too. During its early years, Facebook acquired FriendFeed. In 2012, Facebook acquired Instagram for $1 billion. Two years later, Facebook announced the acquisition of the instant messaging application, WhatsApp for $19 billion.

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